Mexico govt shuts inefficient power company
MEXICO CITY, Oct 11 (Reuters) - Mexico's government said on Sunday it was closing down the power company that supplies electricity to the capital and surrounding area because of inefficiency.
Federal police stood guard at installations of Luz y Fuerza del Centro, which supplies electricity to Mexico City and the surrounding area.
"Luz y Fuerza del Centro's results are notably inferior compared to organizations that provide the same services internationally and compared to the Federal Electricity Commission," the government said in a statement.
The Federal Electricity Commission provides electricity to in most regions of Mexico.
The government said it was liquidating Luz y Fuerza del Centro because it wastes huge amounts of electricity due to inefficiency, and also because of its high costs and operating losses. (Reporting by Noel Randewich and Anahi Rama, editing by Alan Elsner)
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